Crude Oil Technical Analysis – Strong growth data boosts prices ...Middle East

Fundamental OverviewCrude oil has been falling steadily since topping around the $87.50 level following the mutual retaliations between Iran and Israel. The drop has been kind of a head-scratcher as the market didn’t respond positively to the global growth expectations amid China and other major central banks policy easing, improving PMIs and OPEC+ extending the voluntary production cuts until the end of the year. More recently though, crude oil finally caught a sustained bid triggered by the strong US PMIs last week and added to the gains yesterday following the strong US Consumer Confidence report. Looking ahead, positive growth and sentiment should be tailwinds for the market, but we will

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Crude Oil Technical Analysis – Strong growth data boosts prices ...Middle East

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